{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/disclosure-threat",
 "identifier": "kaal:entity:disclosure-threat",
 "name": "Disclosure threat",
 "termCode": "disclosure-threat",
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 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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   "value": [
    "2013",
    "2017"
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2348463-006",
   "identifier": "kaal:claim:2348463-006",
   "text": "The threat of systemic risk disclosure, combined with rising competition in the distressed-debt market, could further incentivize hedge fund managers to cooperate in the bankruptcy process.",
   "abstract": "The threat of disclosure of systemic risk filings in combination with increasing competition in the distressed-debt market could further incentivize hedge fund manager cooperation in the bankruptcy process.",
   "citation": "Wulf A. Kaal, Hedge Funds’ Systemic Risk Disclosures in Bankruptcy (2013). SSRN: https://ssrn.com/abstract=2348463",
   "datePublished": "2013",
   "claim_type": "predictive",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "increasing competition in the distressed-debt market",
    "credible prospect that systemic risk filings become visible in bankruptcy"
   ],
   "source_pdf_sha256": "b3682f24c0b277b3307fb9f54cd17a4e0a87b48eecba34b40e189212f20c9a22",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2348463-030",
   "identifier": "kaal:claim:2348463-030",
   "text": "The threat that hedge fund managers' systemic risk filings could be publicly disclosed could help incentivize hedge fund investors to abstain from trading while serving on a creditors' committee and to avoid holding multiple offsetting positions in distressed entities.",
   "abstract": "The threat of public disclosure of hedge funds managers' systemic risk filing could help incentivize hedge fund investors to abstain from trading while on a committee.",
   "citation": "Wulf A. Kaal, Hedge Funds’ Systemic Risk Disclosures in Bankruptcy (2013). SSRN: https://ssrn.com/abstract=2348463",
   "datePublished": "2013",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "hedge funds serving on committees in bankruptcy cases"
   ],
   "source_pdf_sha256": "b3682f24c0b277b3307fb9f54cd17a4e0a87b48eecba34b40e189212f20c9a22",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998097-026",
   "identifier": "kaal:claim:2998097-026",
   "text": "The mere threat that hedge funds' Form PF systemic risk filings could become public, or be shared between the SEC and the federal bankruptcy bench, could impose some discipline on distressed debt investors' conduct in the bankruptcy process.",
   "abstract": "The mere threat of public access or sharing of hedge funds' systemic risk data filings in Form PF filings between the SEC and the federal bankruptcy bench could help facilitate some level of discipline for distressed debt investors' engagements in the bankruptcy process.",
   "citation": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "distressed debt investing by hedge funds",
    "overlap between Title IV disclosures and Revised Bankruptcy Rule 2019"
   ],
   "source_pdf_sha256": "0955054f49c7011d33c285579bb046e6b284e42755b10fd2546a728c202669d5",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998097-027",
   "identifier": "kaal:claim:2998097-027",
   "text": "The threat of public disclosure of systemic risk filings through the bankruptcy process only marginally affected hedge funds' tactics and their role in distressed investing, because disclosure obligations under the Dodd-Frank Act remained generic and unstandardized.",
   "abstract": "The paper highlighted that the threat of public disclosure of systemic risk filings by hedge funds via the bankruptcy process only marginally affected hedge funds' tactics and their role in distressed investing.154 Hedge funds' disclosure obligations under",
   "citation": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "at the time of the study",
    "before the SEC standardized systemic risk disclosure requirements"
   ],
   "source_pdf_sha256": "0955054f49c7011d33c285579bb046e6b284e42755b10fd2546a728c202669d5",
   "status": "current"
  }
 ],
 "description": "4 claims in the published works of Wulf A. Kaal carry the concept tag 'disclosure-threat'. Derived node: a roster, not an adjudicated definition."
}